ValuEngine cut shares of Kennametal (NYSE:KMT) from a buy rating to a hold rating in a research note issued to investors on Monday.
A number of other equities analysts also recently commented on the company. Barclays began coverage on Kennametal in a report on Thursday, February 15th. They issued an equal weight rating and a $47.00 price objective on the stock. Barrington Research restated an outperform rating and issued a $53.00 price objective on shares of Kennametal in a report on Thursday, February 8th. JPMorgan Chase & Co. downgraded Kennametal from an overweight rating to a neutral rating in a report on Monday, February 5th. Stifel Nicolaus increased their price objective on Kennametal from $50.00 to $52.00 and gave the stock a hold rating in a report on Sunday, February 4th. Finally, Bank of America increased their price objective on Kennametal from $51.00 to $52.00 and gave the stock a neutral rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Kennametal presently has an average rating of Hold and a consensus target price of $49.95.
Kennametal stock opened at $43.69 on Monday. Kennametal has a twelve month low of $32.23 and a twelve month high of $52.52. The firm has a market capitalization of $3,503.58, a PE ratio of 24.82, a PEG ratio of 3.35 and a beta of 2.01. The company has a quick ratio of 1.52, a current ratio of 2.77 and a debt-to-equity ratio of 0.60.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The firm had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. sell-side analysts forecast that Kennametal will post 2.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. Kennametal’s payout ratio is currently 45.45%.
A number of institutional investors have recently made changes to their positions in KMT. Victory Capital Management Inc. bought a new stake in Kennametal during the fourth quarter worth approximately $48,911,000. Bank of New York Mellon Corp boosted its position in Kennametal by 39.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,719,336 shares of the industrial products company’s stock worth $83,234,000 after purchasing an additional 487,255 shares during the period. Janus Henderson Group PLC boosted its position in Kennametal by 23.3% during the third quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock worth $101,234,000 after purchasing an additional 474,225 shares during the period. Impala Asset Management LLC bought a new stake in Kennametal during the fourth quarter worth approximately $16,537,000. Finally, Eagle Asset Management Inc. bought a new stake in Kennametal during the third quarter worth approximately $12,729,000. 99.18% of the stock is owned by hedge funds and other institutional investors.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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